Silver closed sharply higher, with speculative and investment buying picking up along with the safe-haven flows into gold. Holdings in the world's largest silver ETF, the iShares Silver Trust, are rising even though they remain below the record high. Holdings as of Monday stood at 9,087.72 metric tons after a jump from 8,912.94 a week ago. Now technically market is trading in the range as RSI for 18days is currently indicating 66.65, where as 50DMA is at 27566 and silver is trading above the same and getting support at 28714 and below could see a test of 27929 level, And resistance is now likely to be seen at 29939, a move above could see prices testing 30379.

Trading Ideas:

Silver trading range is 27585-30035.

Silver closed sharply higher with speculative and investment buying

Silver is taking resistance at 29660 and support is at 29360.

Holdings at the iShares Silver Trust stood at 9,087.72 metric tons

BUY SILVER JUL @ 29200 SL 29060 TGT 29340-29465-29540.MCX